New market study, "Jordan & Lebanon Insurance Report Q2 2015", has been published
New Financial Services research report from Business Monitor International is now available from Fast Market Research
[UKPRwire, Wed Feb 25 2015] Insurers in Lebanon and Jordan face some key risks during our forecast period through to 2019, including downwards pressure on pricing caused by intense competition within a fragmented marketplace and demographic challenges. In Lebanon, economic uncertainty and currency fluctuations mean we expect to see overall contractions in life and non-life insurance by 2019. The outlook for Jordan is more positive, with healthier domestic economic growth supporting expansion of a range of life and non-life lines.
In 2015, both Lebanon and Jordan are expected to record overall increases in life and non-life insurance premiums written. The key driver of this growth is economic expansion. Healthy domestic economic growth in Jordan, boosted by falling global oil prices, will increase household consumption and demand for products that fill in the gaps in under pressure government services such as health insurance and personal accident cover. Indeed health insurance, which dominates the non-life sector in Lebanon and accounts for over a quarter of premiums in Jordan, will be an outperformer - providing opportunities for both non-life insurers and private healthcare providers. Total insurance premiums are expected to reach USD781mn in Jordan and USD1.39bn in Lebanon.
Full Report Details at
Throughout the remainder of the forecast period, certain sectors will come under downwards pressure, such as motor vehicle insurance in Lebanon where demand for new cars will likely stagnate as growth in the domestic economy slows down from 2016 onwards. A key concern will be improving control of spiralling motor vehicle insurance costs, with insurers reporting high levels of claims fraud in recent years. Health insurance will continue to be the focus of the non-life sector, as governments in Jordan and Lebanon face increasing pressure on state resources in light of the influx of refugees from the Syrian crisis and as medical care costs increase. The life insurance in Jordan will remain small by global...
The Jordan & Lebanon Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.
BMI's Jordan & Lebanon Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Jordanian, Lebanese insurance industry.
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